Russian Central Bank kept the key rate at 16% per annum after five increases in a row. The inflation rate in the country still remains around 7.4%, but by the end of 2024 it should drop to 4-4.5%.
The regulator will continue to maintain tight monetary conditions for now, but in mid-spring or early summer it may return to easing monetary policy. According to experts, the actions of the Bank of Russia will largely depend on how inflation behaves. If inflation slows down, the Central Bank may, on the contrary, return to lowering the rate.